Stephanie Buscemi Sells 5,271 Shares of Confluent, Inc. (NASDAQ:CFLT) Stock

Confluent, Inc. (NASDAQ:CFLT) CMO Stephanie Buscemi sold 5,271 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $28.23, for a total value of $148,800.33. Following the completion of the sale, the chief marketing officer now owns 144,373 shares in the company, valued at $4,075,649.79. This trade represents a 3.52 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Stephanie Buscemi also recently made the following trade(s):

• On Friday, November 1st, Stephanie Buscemi sold 164,123 shares of Confluent stock. The shares were sold at an average price of $26.24, for a total value of $4,306,587.52.

Confluent Stock Performance

NASDAQ CFLT opened at $31.52 on Friday. The stock’s 50-day simple moving average is $23.35 and its two-hundred day simple moving average is $24.64. Confluent, Inc. has a twelve month low of $17.79 and a twelve month high of $35.07. The company has a debt-to-equity ratio of 1.17, a quick ratio of 4.24 and a current ratio of 4.24.

Confluent (NASDAQ:CFLT) last released its quarterly earnings results on Wednesday, October 30th. The company reported ($0.21) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.03. Confluent had a negative return on equity of 34.05% and a negative net margin of 38.35%. The business had revenue of $250.20 million for the quarter, compared to the consensus estimate of $243.98 million. As a group, equities research analysts predict that Confluent, Inc. will post -0.9 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. TD Cowen upped their target price on Confluent from $27.00 to $31.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Wells Fargo & Company dropped their price target on Confluent from $38.00 to $34.00 and set an “overweight” rating on the stock in a research note on Thursday, August 1st. Canaccord Genuity Group dropped their price target on Confluent from $35.00 to $34.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. Stifel Nicolaus dropped their price target on Confluent from $40.00 to $32.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. Finally, Sanford C. Bernstein dropped their price target on Confluent from $38.00 to $33.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $30.88.

Institutional Investors Weigh In On Confluent

A number of large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Confluent by 3.5% in the first quarter. Vanguard Group Inc. now owns 19,741,320 shares of the company’s stock worth $602,505,000 after buying an additional 669,675 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of Confluent by 17.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 17,581,914 shares of the company’s stock worth $536,601,000 after buying an additional 2,587,169 shares during the period. Champlain Investment Partners LLC increased its holdings in shares of Confluent by 72.2% in the third quarter. Champlain Investment Partners LLC now owns 10,700,846 shares of the company’s stock worth $218,083,000 after buying an additional 4,486,841 shares during the period. 1832 Asset Management L.P. increased its holdings in shares of Confluent by 28.4% in the second quarter. 1832 Asset Management L.P. now owns 7,617,100 shares of the company’s stock worth $224,933,000 after buying an additional 1,684,100 shares during the period. Finally, William Blair Investment Management LLC purchased a new position in shares of Confluent in the second quarter worth about $193,403,000. Hedge funds and other institutional investors own 78.09% of the company’s stock.

About Confluent

Confluent, Inc operates a data streaming platform in the United States and internationally. The company provides platforms that allow customers to connect their applications, systems, and data layers, such as Confluent Cloud, a managed cloud-native software-as-a-service; and Confluent Platform, an enterprise-grade self-managed software.